Aye Finance picks up Rs 72 Cr debt funding from BlueOrchard

Lender to medium and small enterprises, Aye Finance on Tuesday announced that it has raised Rs 72 crore in debt funding from Swiss-based impact investor BlueOrchard Finance Ltd. According to the fintech lender, the funds will be used to further enhance its credit portfolio, reach out to India’s burgeoning MSMEs at the grassroots level and bring them under the fold of organised lending.

Since its inception in 2014, Aye Finance has disbursed over Rs 1,000 crore to over 80,000 micro enterprises in India. The company was started by two seasoned bankers........